Plug Power shares surged more than 14% on Thursday. The stock continued to attract significant investor attention through Friday.
Investors speculate the company will benefit from the expanding artificial intelligence industry. This sentiment follows a deal between competitor Bloom Energy and an AI firm for data center fuel cells.
Plug Power issued no new corporate announcements on May 22. Traders are still reacting to a May 20 announcement regarding a U.K. green hydrogen project. Plug Power will supply electrolyzers for that project, which has reached its final investment decision. One analyst raised their price target on the stock following these developments.